Board changes

17.09.2012 11:24

13/9/2012

New World Resources Plc ('NWR' or the 'Company') announces revisions to the composition of the Board of Directors of NWR (the 'Board') and associated management changes.

The Company is pleased to announce the appointment of Mr. Jan Fabian as CEO and Chairman of the Board of Czech coal subsidiary OKD a.s. ('OKD'), effective 1 January 2013. As of the same date, Mr. Fabian will also join the Board of NWR. Mr. Fabian's appointment follows a decision by Mr. Beck to retire from his role as CEO of OKD, a position that he has held since 1 July 2007. Following his resignation from OKD, Mr. Beck will become a Non-Executive Director of the Company.

As announced in June, Mr. Gareth Penny has joined the Board as Chairman-Elect and will become Executive Chairman on 1 October, succeeding Mr. Mike Salamon whose retirement from the Board of Directors of NWR becomes effective on 30 September 2012. Mr. Salamon has been a Director and Executive Chairman of the Board of NWR since 8 April 2011. He has also served as a director and executive chairman of the board of directors of New World Resources N.V. since 1 September 2007, and will be resigning from this position, as of 30 September 2012.